Reserve Bank power to direct housing finance companies governs accounting, provisioning, capital adequacy and deposit acceptance. The substituted section 30A empowers the Reserve Bank to determine policy and issue binding directions to housing finance companies to protect public interest and depositors, covering income recognition, accounting standards, provisioning, capital adequacy, deployment of funds, limits and prohibited purposes for advances, and regulation of deposit-taking including credit rating, interest rates, deposit periods and prohibition of deposit acceptance for non-compliance.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Reserve Bank power to direct housing finance companies governs accounting, provisioning, capital adequacy and deposit acceptance.
The substituted section 30A empowers the Reserve Bank to determine policy and issue binding directions to housing finance companies to protect public interest and depositors, covering income recognition, accounting standards, provisioning, capital adequacy, deployment of funds, limits and prohibited purposes for advances, and regulation of deposit-taking including credit rating, interest rates, deposit periods and prohibition of deposit acceptance for non-compliance.
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